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SYF

Synchrony

, DFS

Discover

$59.28

0.44 (0.75%)

08:02
05/19/17
05/19
08:02
05/19/17
08:02

Wells downgrades Credit Card sector on credit concerns

Wells Fargo analyst Jason Harbes downgraded his rating on the Credit Card space to Market Weight from Overweight after attending Card Forum 2017 in Austin, Texas. The analyst keeps Overweight ratings on Synchrony (SYF) and Discover (DFS) and Market Perform ratings on American Express (AXP) and Capital One (COF). Credit trends have recently deteriorated primarily due to weaker underwriting, Harbes tells investors in a research note. The analyst is also concerned about slowing receivables growth following an extended period of acceleration from 2012-2016. He lowered his price target for Synchrony to $30 from $35, for Discover to $70 from $80 and for Capital One to $85 from $88. The analyst keeps an $80 target on American Express.

SYF

Synchrony

DFS

Discover

$59.28

0.44 (0.75%)

AXP

American Express

$76.38

0.01 (0.01%)

COF

Capital One

$79.27

0.8 (1.02%)

  • 19

    May

  • 31

    May

  • 06

    Jun

SYF Synchrony

05/03/17
GUGG
05/03/17
DOWNGRADE
GUGG
Neutral
Synchrony downgraded to Neutral from Buy at Guggenheim
05/01/17
05/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Booz Allen (BAH), L3 Technologies (LLL), and Harris (HRS) downgraded to Equal Weight from Overweight at Barclays. 2. Synchrony (SYF) downgraded to Neutral from Conviction Buy at Goldman Sachs and to Equal Weight from Overweight at Stephens. 3. Regions Financial (RF) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying a number of the company's businesses are generating lower than expected revenue, while the bank could be hurt by pressure on Treasury yields. 4. Thomson Reuters (TRI) downgraded to Hold from Buy at Canaccord with analyst Aravinda Galappatthige citing valuation and maintained a $47 price target. 5. FirstEnergy (FE) downgraded to In Line from Outperform at Evercore ISI and to Neutral from Overweight at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/01/17
SPHN
05/01/17
DOWNGRADE
SPHN
Equal Weight
Synchrony downgraded on results, headwinds at Stephens
As noted earlier, Stephens downgraded Synchrony to Equal Weight from Overweight . Analyst Vincent Caintic downgraded the stock based on the increase in the company's net chargeoff rate and his belief that it faces additional headwinds going forward, including lack of credibility on credit metrics and a lack of positive catalysts through 2019. Target to $29 from $44.
05/01/17
DADA
05/01/17
NO CHANGE
DADA
Synchrony should be bought on weakness, says DA Davidson
After Synchrony's stock sank about 16% on concerns about the company's credit metrics, DA Davidson analyst Arren Cyganovich says that the increase in the company's reserves were larger than necessary. He thinks that the risk of future increases in the company's net chargeoffs has been reduced, and he remains upbeat on the company's fundamentals. Cyganovich cut his price target on the shares to $41 from $45 but recommends buying the stock on weakness.
DFS Discover
$59.28

0.44 (0.75%)

05/01/17
DBAB
05/01/17
DOWNGRADE
Target $71
DBAB
Hold
Discover downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst David Ho downgraded Discover Financial Services (DFS) and cut his price target for the shares to $71 from $87. The analyst sees "less potent" near-term offsets to weakening credit trends. Ho this morning also upgraded Capital One (COF) to Buy and lowered his price target for Hold-rated Synchrony Financial (SYF) to $35 from $47.
01/25/17
OPCO
01/25/17
NO CHANGE
Target $85
OPCO
Outperform
Discover price target raised to $85 from $67 at Oppenheimer
Oppenheimer analyst Ben Chittenden raised his price target for Discover to $85 from $67 after the company reported better than expected Q4 results driven by a PPE beat. Not only the analyst thinks Discover core business profitability and growth prospects are improving, but the company also would benefit from tax reform, loosening regulation, and federal student loan market opening up. He reiterates an Outperform rating on the shares.
04/26/17
OPCO
04/26/17
NO CHANGE
Target $75
OPCO
Outperform
Discover price target lowered to $75 from $85 at Oppenheimer
Oppenheimer analyst Ben Chittenden lowered his price target for Discover to $75 from $85 after the company reported in-line Q1 results as a PPE beat offset a reserve build and a slightly higher tax rate than expected. The analyst reiterates an Outperform rating on the shares.
03/14/17
DBAB
03/14/17
NO CHANGE
Target $87
DBAB
Buy
Discover recent weakness a buying opportunity, says Deutsche Bank
After hosting meetings with management, Deutsche Bank analyst David Ho believes Discover's loan growth remains efficient and that credit concerns are overblown. He recommends using near-term weakness in the shares as a buying opportunity and keeps a Buy rating on the name with an $87 price target.
AXP American Express
$76.38

0.01 (0.01%)

04/27/17
NOMU
04/27/17
UPGRADE
Target $78
NOMU
Neutral
American Express upgraded to Neutral from Reduce at Nomura Instinet
Nomura Instinet analyst Bill Carcache upgraded American Express to Neutral from Reduce and increased its price target to $78 from $63. The analyst sees near-term upside from a growing mix of spread lending, a resurgence in corporate spending, and a potential reduction in investment spending that will add to near-term earnings leverage.
04/28/17
JEFF
04/28/17
NO CHANGE
Target $85
JEFF
Hold
American Express price target raised to $85 from $75 at Jefferies
Jefferies analyst John Hecht raised his price target for American Express to $85 after hosting investor meetings with management. The analyst is encouraged by the company's "continued progress in a post-Costco environment" but keeps a Hold rating on the shares.
04/25/17
04/25/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Best Buy (BBY) upgraded to Buy from Neutral at BofA/Merrill with analyst Denise Chai citing stronger than expected product cycles in TVs, phones, and time smart home technology, strong online growth, increased focus on high margin services like subscription warranties and in-home services, and new cost savings opportunities. 2. JPMorgan (JPM) and American Express (AXP) were upgraded to Buy from Neutral at Guggenheim while Wells Fargo (WFC) was upgraded to Neutral from Sell. 3. Crane (CR) upgraded to Outperform from Market Perform at William Blair with analyst Nicholas Heymann citing the company's first quarter results. 4. NCI Building (NCS) upgraded to Outperform from Sector Perform at RBC Capital with analyst Robert Wetenhall saying he is more confident in the outlook of the company's end markets and the growth potential of its insulated metal panels business. The analyst believes that worries about the impact of steel price fluctuations on the company's margins are overdone, as he says that hedging can reduce the impact of such fluctuations. 5. Terex (TEX) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying the stock looks undervalued based on the company's 2020 targets. Following Terex's Q1 upside and raised 2017 outlook, the analyst upped her price target for the shares to $47 from $30. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/27/17
04/27/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Cisco (CSCO) upgraded to Outperform from Underperform at Credit Suisse with analyst Kulbinder Garcha saying Cisco Systems' transition towards a diversified IT player can be accelerated in an environment of tax reform. He double upgraded Cisco to Outperform from Underperform and upped his price target for the shares to $40 from $27. 2. McDonald's (MCD) upgraded to Buy from Hold at Argus with analyst John Staszak citing its new promotional offers and the increasing popularity of its mobile order and pay system. 3. American Express (AXP) upgraded to Neutral from Reduce at Nomura Instinet with analyst Bill Carcache saying he sees near-term upside from a growing mix of spread lending, a resurgence in corporate spending, and a potential reduction in investment spending that will add to near-term earnings leverage. 4. PayPal (PYPL) upgraded to Neutral from Underweight at Piper Jaffray with analyst Jason Deleeuw citing strong digital payment momentum following the company's first quarter results. He raised his price target for the shares to $45 from $41. 5. DISH upgraded to Overweight from Equal Weight at Barclays with analyst Kannan Venkateshwar saying DISH could emerge as a preferred partner for most of the carriers while its satellite business is an "underappreciated strategic asset. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
COF Capital One
$79.27

0.8 (1.02%)

04/26/17
RAFF
04/26/17
DOWNGRADE
RAFF
Hold
Capital One downgraded to Hold from Buy at Rafferty Capital
05/01/17
DBAB
05/01/17
UPGRADE
Target $98
DBAB
Buy
Capital One upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst David Ho upgraded Capital One to Buy saying loss curves for the bulk of the company's recent card vintage growth should continue to improve. The analyst keeps a $98 price target for the shares.
03/30/17
SPHN
03/30/17
NO CHANGE
Target $64
SPHN
Overweight
TSYS could see 'a small benefit' from Cabela's sale, says Stephens
Stephens analyst Brett Huff thinks TSYS (TSS) could see "a small benefit" from the sale of Cabela's (CAB). After being delayed by regulatory approvals, The Wall Street Journal is reporting that Bass Pro would buy the retail ops, Synovus (SNV) would buy bank/co-branded credit card portfolio, and in turn selling the portfolio to Capital One (COF), he notes. The analyst points out that TSYS is Capital One's card issuing processor, and says he thinks the about 2M active cards would move to TSYS' platform. Huff reiterates an Overweight rating and $64 price target on TSYS's shares.

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THFF

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TLT

iShares 20+ Year Treasury Bond Fund

$125.31

0.22 (0.18%)

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Snap

$15.36

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S

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HNHPF

Hon Hai Precision

$7.28

-0.21 (-2.80%)

, AAPL

Apple

$155.98

-3.78 (-2.37%)

11:19
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HNHPF

Hon Hai Precision

$7.28

-0.21 (-2.80%)

AAPL

Apple

$155.98

-3.78 (-2.37%)

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FDC

First Data

$18.96

0.505 (2.74%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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IBDRY

Iberdrola

$31.72

0.165 (0.52%)

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Siemens

$69.58

-0.295 (-0.42%)

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IBDRY

Iberdrola

$31.72

0.165 (0.52%)

SIEGY

Siemens

$69.58

-0.295 (-0.42%)

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SE

Sea Limited

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SE

Sea Limited

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XLF

Financial Select Sector

$26.55

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REDU

RISE Education Cayman

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AEG

AEGON

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-0.06 (-1.02%)

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NSC

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1.79 (1.37%)

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DHXM

DHX Media

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  • 26

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SE

Sea Limited

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